Former Massachusetts banking commissioner Steven Antonakes was named deputy director of the Consumer Financial Protection Bureau this week.

Antonakes had been serving as the acting deputy director of the CFPB. He will continue to maintain responsibility for his duties as the associate director for supervision, enforcement and fair lending at the CFPB.

"I am happy to announce that Steve will be the official deputy director of the bureau," CFPB Director Richard Cordray said in a statement. "He has adeptly led – and will continue to lead – our supervision, enforcement, and fair lending teams. Steve’s experience, his knowledge and his judgment are vital in helping us achieve our mission of fostering a thriving, sustainable marketplace for both consumers and responsible businesses."

Antonakes has more than 20 years of experience as a financial services regulator. He began his career as an entry-level bank examiner with the Massachusetts Division of Banks in 1990. Since then, he has worked in numerous managerial capacities, including serving as former Commissioner of Banks Thomas J. Curry’s deputy for nine years, before being appointed by successive governors to as the Commissioner of Banks from December 2003 until November 2010. He was the second career bank examiner to ever serve in that capacity.

Antonakes joined the CFPB in November 2010 as the assistant director for large bank supervision and was named the associate director for supervision, enforcement and fair lending in June 2012.

He has also served as the first state voting member of the Federal Financial Institutions Examination Council, as the vice chairman of the Conference of State Bank Supervisors and as a founding member of the governing board of the Nationwide Mortgage Licensing System. Antonakes also received NeighborWorks America’s Government Service Award for his work in combating foreclosures in March 2007.